Thryve Wealth Management LLC Invests $1.15 Million in Visa Inc. $V

Thryve Wealth Management LLC acquired a new position in shares of Visa Inc. (NYSE:VFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,265 shares of the credit-card processor’s stock, valued at approximately $1,145,000. Visa comprises 0.6% of Thryve Wealth Management LLC’s portfolio, making the stock its 27th largest holding.

Other institutional investors also recently modified their holdings of the company. KW Wealth Management LLC boosted its holdings in Visa by 10.2% in the 4th quarter. KW Wealth Management LLC now owns 3,948 shares of the credit-card processor’s stock valued at $1,385,000 after purchasing an additional 367 shares during the period. MidFirst Bank acquired a new stake in shares of Visa in the 4th quarter valued at $12,050,000. Alternative Investment Advisors LLC. boosted its stake in Visa by 8.2% in the fourth quarter. Alternative Investment Advisors LLC. now owns 834 shares of the credit-card processor’s stock valued at $293,000 after buying an additional 63 shares in the last quarter. DGS Capital Management LLC boosted its stake in shares of Visa by 5.3% in the 4th quarter. DGS Capital Management LLC now owns 3,669 shares of the credit-card processor’s stock valued at $1,287,000 after purchasing an additional 184 shares in the last quarter. Finally, Ketron Financial acquired a new stake in Visa in the fourth quarter valued at approximately $2,194,000. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CFO Chris Suh sold 10,639 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This trade represents a 67.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.12% of the company’s stock.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating and set a $415.00 price target on shares of Visa in a research note on Wednesday, April 29th. Loop Capital started coverage on shares of Visa in a research report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price target on the stock. BMO Capital Markets assumed coverage on shares of Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective for the company. Weiss Ratings downgraded Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Finally, Evercore set a $350.00 price target on shares of Visa in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $387.78.

View Our Latest Analysis on V

Visa Trading Up 0.1%

Shares of V stock opened at $327.67 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $321.23 and a 200-day moving average of $324.24. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $359.66. The firm has a market cap of $587.76 billion, a P/E ratio of 28.54, a PEG ratio of 1.75 and a beta of 0.77.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.76 EPS. Sell-side analysts anticipate that Visa Inc. will post 13.09 earnings per share for the current year.

Visa announced that its board has initiated a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is presently 23.34%.

Visa Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

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